Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Up – What’s Next?

Bitdeer Technologies Group (NASDAQ:BTDR) gapped up prior to trading on Tuesday . The stock had previously closed at $11.37, but opened at $12.79. Bitdeer Technologies Group shares last traded at $12.2150, with a volume of 7,140,133 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Bitdeer Technologies Group in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $35.00 price target for the company. Wall Street Zen lowered shares of Bitdeer Technologies Group from a “sell” rating to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Bitdeer Technologies Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Rosenblatt Securities increased their price target on Bitdeer Technologies Group from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods reduced their price target on Bitdeer Technologies Group from $17.00 to $14.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Bitdeer Technologies Group has a consensus rating of “Moderate Buy” and an average target price of $25.45.

Bitdeer Technologies Group Trading Up 7.8%

The company has a current ratio of 1.85, a quick ratio of 1.11 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $2.89 billion, a P/E ratio of -3.57 and a beta of 2.50. The business has a 50 day moving average price of $14.98 and a 200 day moving average price of $12.48.

Bitdeer Technologies Group (NASDAQ:BTDR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.21). Bitdeer Technologies Group had a negative return on equity of 69.95% and a negative net margin of 68.11%.The firm had revenue of $188.93 million for the quarter, compared to the consensus estimate of $184.02 million. During the same period in the previous year, the business earned ($0.37) EPS. The firm’s revenue was up 169.5% compared to the same quarter last year. Analysts anticipate that Bitdeer Technologies Group will post -1.54 EPS for the current year.

Institutional Trading of Bitdeer Technologies Group

Hedge funds have recently added to or reduced their stakes in the business. Situational Awareness LP lifted its position in Bitdeer Technologies Group by 92.4% during the 1st quarter. Situational Awareness LP now owns 3,439,450 shares of the company’s stock worth $29,751,000 after buying an additional 1,651,450 shares in the last quarter. Bank of Nova Scotia lifted its stake in Bitdeer Technologies Group by 91.1% in the 1st quarter. Bank of Nova Scotia now owns 1,369,447 shares of the company’s stock valued at $11,846,000 after purchasing an additional 652,874 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in Bitdeer Technologies Group during the third quarter worth about $6,792,000. SG Americas Securities LLC increased its position in Bitdeer Technologies Group by 144.3% during the fourth quarter. SG Americas Securities LLC now owns 156,724 shares of the company’s stock worth $1,757,000 after buying an additional 92,563 shares during the last quarter. Finally, Fund Resources Investment Holding Group Co Ltd bought a new stake in Bitdeer Technologies Group in the fourth quarter valued at approximately $102,732,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Bitdeer Technologies Group Company Profile

Bitdeer Technologies Group Inc (NASDAQ:BTDR) is a global digital asset mining and computing services provider focused on delivering secure and efficient hashrate solutions to institutional and retail customers. The company leverages its proprietary mining platform to offer hosted mining, hashrate sales and management services, enabling clients to access large-scale mining operations without direct investment in hardware or infrastructure.

Bitdeer’s core offerings include mining hosting services, whereby the firm installs, operates and maintains specialized mining equipment on behalf of customers, and hashrate-as-a-service products that provide fixed-capacity mining power with transparent pricing structures.